TenCore Partners LP Sells 42,000 Shares of Perimeter Solutions, SA $PRM

TenCore Partners LP reduced its position in shares of Perimeter Solutions, SA (NYSE:PRM) by 9.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 395,150 shares of the company’s stock after selling 42,000 shares during the period. Perimeter Solutions accounts for 5.6% of TenCore Partners LP’s investment portfolio, making the stock its 9th biggest position. TenCore Partners LP’s holdings in Perimeter Solutions were worth $10,878,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in PRM. Jones Financial Companies Lllp acquired a new stake in Perimeter Solutions during the 3rd quarter valued at $27,000. Northwestern Mutual Wealth Management Co. raised its stake in Perimeter Solutions by 51.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,143 shares of the company’s stock valued at $31,000 after purchasing an additional 389 shares during the period. EverSource Wealth Advisors LLC acquired a new stake in Perimeter Solutions during the 2nd quarter valued at $42,000. Comerica Bank raised its stake in Perimeter Solutions by 45.0% during the 1st quarter. Comerica Bank now owns 4,267 shares of the company’s stock valued at $43,000 after purchasing an additional 1,324 shares during the period. Finally, Larson Financial Group LLC raised its stake in Perimeter Solutions by 55.7% during the 4th quarter. Larson Financial Group LLC now owns 2,514 shares of the company’s stock valued at $69,000 after purchasing an additional 899 shares during the period. 89.93% of the stock is owned by institutional investors and hedge funds.

Perimeter Solutions Trading Down 1.7%

Shares of NYSE:PRM opened at $31.74 on Tuesday. The stock has a market capitalization of $5.18 billion, a PE ratio of -23.69 and a beta of 1.92. Perimeter Solutions, SA has a 1 year low of $12.00 and a 1 year high of $34.89. The firm has a fifty day moving average price of $28.46 and a 200 day moving average price of $27.30. The company has a current ratio of 3.09, a quick ratio of 1.61 and a debt-to-equity ratio of 1.01.

Perimeter Solutions (NYSE:PRM) last issued its quarterly earnings data on Thursday, May 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The firm had revenue of $125.07 million during the quarter, compared to analysts’ expectations of $121.80 million. Perimeter Solutions had a negative net margin of 26.93% and a positive return on equity of 18.29%. Analysts expect that Perimeter Solutions, SA will post 1.91 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Haitham Khouri sold 117,511 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $31.19, for a total value of $3,665,168.09. Following the completion of the sale, the chief executive officer directly owned 1,874,615 shares in the company, valued at approximately $58,469,241.85. This represents a 5.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Kyle Sable sold 49,540 shares of the company’s stock in a transaction on Wednesday, May 13th. The stock was sold at an average price of $33.09, for a total transaction of $1,639,278.60. Following the completion of the sale, the chief financial officer owned 49,540 shares of the company’s stock, valued at $1,639,278.60. This represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 1,129,535 shares of company stock worth $32,569,161. Corporate insiders own 13.10% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on PRM shares. UBS Group upped their price target on shares of Perimeter Solutions from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Weiss Ratings raised shares of Perimeter Solutions from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday. Zacks Research raised shares of Perimeter Solutions from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 14th. Wall Street Zen raised shares of Perimeter Solutions from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Morgan Stanley upped their price target on shares of Perimeter Solutions from $35.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Perimeter Solutions has a consensus rating of “Moderate Buy” and an average target price of $37.00.

About Perimeter Solutions

Perimeter Solutions Ltd. (NYSE: PRM) is a global specialty chemicals company focused on delivering performance-driven solutions for the oil and gas, coatings, plastics, water treatment and packaging markets. Established as an independent publicly traded company in December 2019 following its spin-off from NewMarket Corporation, Perimeter Solutions has positioned itself as a leading provider of highly engineered chemical products designed to optimize upstream oil recovery, protect infrastructure and enhance the performance of industrial processes.

The company’s core product portfolio spans several key segments.